Vanguard Group Inc. Grows Holdings in PagerDuty $PD

Vanguard Group Inc. raised its position in shares of PagerDuty (NYSE:PD) by 17.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 12,593,954 shares of the company’s stock after purchasing an additional 1,840,407 shares during the quarter. Vanguard Group Inc. owned 13.51% of PagerDuty worth $208,052,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PD. Millennium Management LLC lifted its stake in shares of PagerDuty by 55.4% during the 1st quarter. Millennium Management LLC now owns 1,005,111 shares of the company’s stock valued at $18,363,000 after buying an additional 358,347 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of PagerDuty by 32.4% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 896,369 shares of the company’s stock valued at $13,697,000 after acquiring an additional 219,128 shares in the last quarter. Loomis Sayles & Co. L P boosted its stake in shares of PagerDuty by 3.0% in the second quarter. Loomis Sayles & Co. L P now owns 837,407 shares of the company’s stock worth $12,796,000 after acquiring an additional 24,013 shares during the period. Qube Research & Technologies Ltd grew its position in shares of PagerDuty by 31.7% during the second quarter. Qube Research & Technologies Ltd now owns 773,715 shares of the company’s stock worth $11,822,000 after purchasing an additional 186,152 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its stake in PagerDuty by 17.9% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 557,406 shares of the company’s stock valued at $8,517,000 after purchasing an additional 84,502 shares during the period. 97.26% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at PagerDuty

In other news, Director Dan Alexandru Solomon sold 266,667 shares of the business’s stock in a transaction that occurred on Tuesday, December 30th. The stock was sold at an average price of $13.35, for a total transaction of $3,560,004.45. Following the transaction, the director owned 2,389,665 shares of the company’s stock, valued at approximately $31,902,027.75. The trade was a 10.04% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 8.00% of the company’s stock.

PagerDuty Stock Down 0.5%

Shares of NYSE PD opened at $7.05 on Monday. The company has a current ratio of 2.37, a quick ratio of 2.37 and a debt-to-equity ratio of 1.23. PagerDuty has a 12-month low of $6.18 and a 12-month high of $19.70. The firm’s 50-day moving average price is $10.19 and its 200-day moving average price is $13.49. The stock has a market capitalization of $646.59 million, a price-to-earnings ratio of 4.40, a P/E/G ratio of 1.77 and a beta of 0.73.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on PD shares. Canaccord Genuity Group reaffirmed a “buy” rating and set a $19.00 price objective on shares of PagerDuty in a report on Wednesday, November 26th. Wall Street Zen raised shares of PagerDuty from a “hold” rating to a “buy” rating in a research note on Sunday, January 25th. Craig Hallum cut shares of PagerDuty from a “buy” rating to a “hold” rating and decreased their price target for the stock from $20.00 to $15.00 in a research note on Wednesday, November 26th. Zacks Research downgraded shares of PagerDuty from a “strong-buy” rating to a “hold” rating in a report on Monday, January 26th. Finally, Royal Bank Of Canada reiterated a “sector perform” rating on shares of PagerDuty in a research report on Wednesday, February 11th. Three research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, PagerDuty has a consensus rating of “Hold” and a consensus price target of $16.00.

About PagerDuty

PagerDuty, Inc engages in the operation of a digital operations management platform in the United States and internationally. The company’s digital operations management platform collects data and digital signals from virtually any software-enabled system or device and leverage machine learning to correlate, process, and predict opportunities and issues. Its platform includes PagerDuty Incident Management that provides a real-time view across the status of a digital service while incorporating noise reduction to remove false positives; AIOps that applies machine learning to correlate and automate the identification of incidents from billions of events; Process Automation offers centralized design time and run time environment for orchestrating automated workflows that span across departments, technologies, and networks; Customer Service Operations, which is offered to orchestrate, automate, and scale responses to customer impacting issues.